Tuesday, November 13, 2012

Bankruptcies fall to 3-year low in 2012

In Colorado during October, total bankruptcy cases filed fell 7.7 percent, year over year, to 2,277 cases. During October 2011, 2,469 cases were filed. October was the 21st month in a row in which bankruptcies declined year over year,following three years of growth from 2007 to 2009.

The first graph shows the year-over-year changes in bankruptcy case filings since January 2007:

In general, bankruptcy filings are about where they were during 2004, although they are up significantly since 2006 following the implementation of the 2005 Bankruptcy Act (discussed here).

In year-to-date totals from January through October, bankruptcy filings have fallen for the past two years, are now on a level similar to what was experienced during 2004 which was a non-recessionary period. Totals remain well above what they were during the days the of the dot-com boom, however.